Markets snap 4-day record closing trend, end flat; Nifty up 2% for the week
The markets ended flat, snapping 4-day record closing trend after opening at record highs after information technology heavyweight Infosys’ June quarter results beat Street estimates, while TCS, which declared its results post market hours on Thursday, was the top loser on Sensex and Nifty.
The BSE Sensex settled the day at 32,020, down 16 points while the broader Nifty50 index ended at 9,886, down 5 points
Nifty IT index was the top sectoral loser, down over 1% for the day dragged by Just Dial, TCS, Wipro and Tata Elxsi. Infosys also slipped in red, ending 0.7% down for the day after rising nearly 3% in early-morning trade.
Market breadth remained negative with 1,681 declines against 1,010 advances. However, both indices were up over 2% each for the week, their biggest weekly gains since mid-March.
NTPC, Kotak Mahindra Bank, Cipla, SBI and Bajaj Auto contributed the most on BSE Sensex while Wipro, TCS, Tata Motors and Coal India shed the most on the index
In broader markets, the BSE Midcap index outperformed the benchmark indices, up 0.2% for the day while the BSE Smallcap index ended 0.3% lower.
ONGC, Coal India, M&M and Cipla are the top weekly losers on Nifty50
ACC, GAIL, Aurobindo Pharma, Hindalco, Indiabulls Housing Finance, Bharti Airtel are the top gainers for the week on Nifty50, up between 5-10%
Shares of newly listed companies AU Small Finance, Central Depository Services (India), Housing & Urban Development Corporation (HUDCO) and Shankara Building Products tanked up to 22% from their intra-day high levels on Friday on profit booking.